TechFlow reports, on July 11, according to monitoring by on-chain analyst Ember (@EmberCN), Tether's reserve address used to purchase BTC with 15% of profits every quarter made a test deposit of 4 BTC (approximately $250,000) to Binance 5 hours ago. The address transferred 204.3 BTC (approximately $14.36 million, when BTC price was approximately $70,000) to Bitfinex one month ago; whether it has been sold remains uncertain.
Notably, it has been over ten days since the end of the second quarter this year, yet Tether has not transferred the BTC purchased during the quarter to the reserve address at the end of the quarter as per usual convention, leading the market to suspect it has paused the BTC purchase plan. The reserve address has accumulated 96,936 BTC since 2023, currently valued at approximately $6.72 billion, ranking as the fifth largest BTC wallet globally.
